Mumbai: Bhopal-based Sarva Foam Industries Limited has filed its Draft Red Herring Prospectus with market regulator SEBI for an initial public offering.
The IPO will comprise a fresh issue of up to 54 lakh equity shares and an offer-for-sale of up to 13.50 lakh shares by promoter Kunal Giani. The shares have a face value of Rs 5 each.
The company may also consider a pre-IPO placement. If completed, the size of the fresh issue will be reduced accordingly.
Rs 90 Crore For New Plant
Sarva Foam plans to use Rs 90 crore from the fresh issue to fund capital expenditure for setting up a new manufacturing facility for Rebonded Polyurethane foam products.
Another Rs 30 crore will be used to repay or prepay certain borrowings. The remaining proceeds will be used for general corporate purposes.
Up to 50 per cent of the offer will be available for qualified institutional buyers, while at least 15 per cent will be reserved for non-institutional investors and 35 per cent for retail investors.
Four Manufacturing Units
Founded in 2018, Sarva Foam manufactures and trades Rebonded PU foam. The company converts PU foam trims and off-cuts into Rebonded foam products.
According to a D&B Report cited by the company, Sarva Foam had an estimated 33 per cent share of India's Rebonded PU foam market in FY26. It is also the country's largest exporter of these products.
The company operates four manufacturing units, located in Dadri, Silvassa and Krishnagiri. Its total manufacturing capacity stood at 15,500 metric tonnes annually as of March 31, 2026.
Its products have been supplied to overseas markets including the UK, Australia, Qatar and Ireland.
Revenue Rises In FY26
Revenue from operations increased to Rs 206.12 crore in FY26 from Rs 174.84 crore in FY25.
Beeline Capital Advisors is the book-running lead manager, while Bigshare Services is the registrar. The shares are proposed to be listed on the BSE and NSE.
